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Government fails to derail Aer Lingus chief's pension bump-reports

A trade union called any increase would be “very strange”.
May 2nd 2014, 7:55 PM 17,843 35

AER LINGUS CHIEF executive has reportedly been awarded an increased pension despite losing the backing of the Government in a vote at the airline’s AGM today.

Christoph Mueller’s pension provision could now rise from 25 per cent to 40 per cent of base salary.

This is despite the Government reportedly using its 25 per cent shareholding in the company to vote against the the proposed increase.

Ryanair, which has a 30 per cent shareholding, is thought to have voted to approve the increase.

Mueller was paid a total of €1.5 million last year, a €200,000 increase on his 2012 pay.

A spokesman for the IMPACT trade union, which represents employees of the airline, welcomed the Government’s decision to vote against the package.

He said: “In the context where some members are facing uncertainty and the likely loss of some pension benefits, it seems very strange that the CEO would be in receipt of a bonus.”

IMPACT confirmed that it had written to the Minister for Transport and Finance Minister Michael Noonan in the wake of revelations about the pay level of the chief executive, asking them to block any pension increase.

Aer Lingus posted a loss of just under €50 million for the first quarter of the year earlier this week.

Aer Lingus paid its chief executive €1.5 million in 2013>

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